12 | www.retailenvironments.org RETAIL ENVIRONMENTS july.august.2015
While we laugh at the truism revealed
in the meme at right (some of which still holds true),
today’s male shopper is quite different from his predecessors. Men are doing much more shopping these days, both
in-store and online, and retailers are taking notice and
adapting their strategies to embrace the new renaissance
man of retail.
Men’s retail sales have leapt 4.1% to $101.8 billion in the
past two years, surpassing growth in women’s sales, which
grew just 2.8% to $150.1 billion, according to a recent
L.A. Times article. The article predicted that by 2017, menswear will climb 8.3% to $110.3 billion. To grow their share
of this market, brands from Prada to Guess have opened
boutiques for men, while Nordstrom recently purchased
online men’s styling service Trunk Club.
Online, menswear has outpaced every category from alcohol to auto parts in the past five years, with an annual sales
growth of 17.4%, with similar projections expected through
2020, according to research firm IBISWorld. While 57% of
online purchases were made by women in 2013, 22% of men
made purchases on their smartphones last year compared to
18% of women, according to a recent Business Insider study.
To borrow from the old Virginia Slims slogan, “You’ve
come a long way, man.”
TODAY’S MALE SHOPPER IS SAVVY
AND SPENDING MORE THAN EVER.
HERE’S WHAT RETAILERS ARE
DOING ABOUT IT. BY ROBERT NIEMINEN